China Life Insurance 2011 Net Profit Declines 45%

China Life Insurance Co

reported a 45% drop in its 2011 net profit. China Life's 2011 net profit fell to CNY18.33 billion ($2.9 billion), from CNY33.63 billion, in the year-ago period. However, analysts were expecting a net profit of CNY18.79 billion. LFC shares gained 1.97% to close at $39.78 yesterday.